Imtech strengthens its position in Finland with the acquisition of LIT

Gouda - Imtech N.V. (technical services provider in Europe) announces the acquisition of the Finnish technical services provider, LIT (LIT Lännen Ilmatekniikka Ltd.). With around 25 employees, LIT realises an annual revenue of over 3 million euro. The acquisition contributes directly to net profit.

Imtech’s CEO René van der Bruggen: ‘As is well-known, Imtech is aiming to achieve a strong position in the Nordic region. The recent acquisition of NEA – which employs nearly 2,200 technical specialists, with forecasted revenue of approximately SEK 2.5 billion in 2010 – has significantly bolstered our position in Sweden and Norway, and we are currently working on improving our position in Finland. The acquisition of LIT will allow us here to increase the scale of our operations and range of services, especially in the growing energy market. From a technological point of view, LIT will enable us to provide greater added value to a wider customer base. That is an excellent foundation for further growth. More acquisitions by Imtech in Finland can be expected in the near future.’

LIT profile
LIT (LIT Lännen Ilmatekniikka Ltd.) is based in Rauma, near Turku, and occupies a strong market position in the fast-growing industrial market in the south-west of Finland. The company is primarily involved in the paper industry. LIT specialises in technology and maintenance in the fields of energy, air-conditioning, ventilation and heat. It has a small but innovative department for applying high-tech control systems for maximising the effectiveness and efficiency of energy and ventilation. This sets LIT apart from the rest of the market.

Synergy
The services provided by LIT are an ideal complement to the current Imtech activities in Finland in the area of climate technology. As a result, the customer-base, scale of operations and range of technological services are all set to increase. This will lead to further growth in the future for Imtech in Finland.

Further growth in the Nordic region
Imtech acquired NVS, a mechanical services company, in late 2008, and NEA, a company specialising in electrical services, the following June. Together, NVS and NEA are a strong player in the Nordic region. The pooling of knowledge and competencies means that customers can benefit from multidisciplinary technical services. With a pro forma 2010 annualized total staff of over 4,500 and a pro forma forecasted 2010 revenue of approximately SEK 5.9 billion, Imtech holds a strong top-3 position in the Nordic region. Imtech also recently acquired another company in Finland: YSP a technological frontrunner in the market for high-tech traffic solutions.